Labour market, a step forward

China will introduce, starting today, a new legislation on labour market, aimed at giving workers more rights. Major changes include the introduction of severance pay and the extension of long term contracts. The change will certainly raise cost at inland factories but will also help attracting high skilled workers that would otherwise continue fleeing the country in search of better paid jobs. It is also a big plus for international companies that will be more capable than their domestic counterparts, at least in a first stage, at retaining professionals, on the ground of worldwide experienced incentive schemes.

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